It is very fun to build around Círdan the Shipwright, to make his discard insignificant. That's what I managed to do with Elena adding a Silver Harp to hand during setup.
Start: Mulligan for Light of Valinor, Steward of Gondor and some cheap allies. You can discard a cheap ally you draw turn one, because there's still Wandering Spirits to get them back. Place both Light and Steward on Cirdan, together with Narya and 1-2 Harps. The other of those go onto Arwen Undómiel and the Wooden Lyre is for Elena. Get the Elven-light engine started as early as you can.
Allies: Elven Jeweler for a free emergency ally, Eregion Survivor for a good body when cards are rare, Erestor is a free draw once you get your 2nd harp, Galadriel to get more attachments quickly, Gandalf for the versatility, Glorfindel for the consistently readyable body, Lindir for the body mostly but the draw could sometimes come in handy, Sailor of Lune and Wandering Exile for questing boost, Wandering Spirit for the recursion of allies and Warden of the Havens for a bit of defense.
Attachments: Ancient Mathom for even more draw, Light of Valinor to have Cirdan be usable for Narya, which is mainly there for resource smoothing and extra defense, Silver Harp is basicly extra draw, Silver Lamp is for better defense preparation, goes on Cirdan once he has Light, Steward of Gondor is for the resources, Wooden Lyre is for better defense.
Events: A Test of Will for canceling, A Very Good Tale for swarming allies, Elrond's Counsel for threat reduction, Elven-light for the ultimate draw engine, Lords of the Eldar to boost your entire board when needed, Sneak Attack to combo with gandalf or Glorfindel when needed, Song of Slumber for not needing to defend for a turn, and Will of the West is for when you have emptied your deck